Public Employees Credit Union Mortgage Rates, Fees & Info
Austin, TXLEI: 549300QMMJSALZQVP721
Tax ID: 74-1196893
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Public Employees Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Public Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Austin, Houston, Dallas, Killeen, and Waco among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Public Employees Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 11/11/24 |
| 15 Year Conventional Refi | 5.68% | 11/11/24 |
| 15 Year Cash-out Refi | 5.68% | 11/11/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Public Employees Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
62Origination Dollar Volume (All Markets)
$6,200,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 50 | $4,860,000 | $97,200 | $1,691 | 6.13% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $3,230 | 6.33% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,550 | 6.29% |
| Outside of Metro Areas | 3 | $115,000 | $38,333 | $0 | 5.92% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.39% |
| WACO, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.79% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $6,200,000 | $100,000 | $1,891 | 6.16% |
For 2023, Public Employees Credit Union's most frequently originated type of loan was Conventional, with 62 originations.
Loan Reason
For 2023, Public Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 30 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.
Loan Duration/Length
For 2023, Public Employees Credit Union's most frequently cited loan duration was 10 Year, with 24 originations. The 2nd most popular length was 20 Year, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 38 | $4,480,000 | $117,895 |
| 5-6% | 24 | $1,720,000 | $71,667 |
During 2023, Public Employees Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 38 originations.
Loan Sizing
2023 saw Public Employees Credit Union place emphasis on $100,000 or less loans with 40 originations, totaling $2,210,000 in origination value.
Applicant Income
Public Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $100k-150k, with 11 originations.
Applicant Debt to Income Ratio
Public Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.46%
Public Employees Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination46.77%
Public Employees Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $6,200,000 | $100,000 |